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Honda plans to invest $3.4 billion in the production of electric motorcycles and mopeds over the next decade, as well as launch 30 new electric models to reduce the cost of electric motorcycles by 50 percent.
The company will invest 100 billion yen in 2021-2025, followed by an additional 400 billion yen in 2026-2030. The sales target was raised to 4 million units from 3.5 million units announced last year. Honda will utilize its existing internal combustion engine model infrastructure, but plans to start operating a dedicated electric motorcycle production plant around 2027.
The company also plans to improve customer convenience through online sales. According to Grand View Research, the global electric motorcycle market will be worth $30 billion in 2022, growing by nearly 19% annually in the future.
(Source: AFP Image source: freepik)
